Information Content of Non-GAAP Earnings of Cross-Listed Companies (open access)

Information Content of Non-GAAP Earnings of Cross-Listed Companies

To supplement earnings reported under generally accepted accounting principles (GAAP), public companies often voluntarily report alternative measures of earnings called non-GAAP earnings (NGE). These companies assert that NGE exclude the effect of non-recurring transactions, thereby helping users of financial information to better assess the company's past performance and prospects. Because NGE measures are not well defined, managers can exploit the inherent discretion in calculating NGE to mislead users. Prior studies provide arguments and evidence on the informative as well as opportunistic use of NGE. However, the studies have examined the characteristics and informativeness of NGE with a focus on U.S. companies. The results of studies that consider the NGE disclosure by U.S. companies may not be generalizable to the cross-listed companies because foreign financial reporting standards are different from the U.S. GAAP. Further, prior studies report a difference in earnings quality of U.S. firms and cross-listed firms, which can also result in a difference in the informativeness of their NGE. To fill this gap in literature, I examine whether the informativeness of NGE of cross-listed companies is different from that of U.S. companies. This study contributes to the debate on the informativeness of NGE. It provides evidence that in general, …
Date: May 2018
Creator: Adhikari, Subash
System: The UNT Digital Library
Three Essays on Regulatory Focus, Consumer Creativity, and Co-Creation (open access)

Three Essays on Regulatory Focus, Consumer Creativity, and Co-Creation

Co-creation has been conceptualized in a number of ways but is generally referred to as an ongoing partnership between a firm and stakeholders (i.e. consumers) to collaboratively identify and solve mutually beneficial issues. While current scholarship has deepened our knowledge about the process of including consumers in the co-production of value, much remains to be learned. This is particularly true with respect to the consumer behavior side of the discipline as it pertains to creativity and motivation. Thus, the focus of the following three essays is to investigate how customer participation in the ideation of products and advertising influences down-stream responses, depending upon an individual's regulatory focus. According to regulatory focus theory, individuals are motivated to pursue their goals based upon two distinct self-regulatory systems known as promotion and prevention. Promotion-focused consumers are most concerned with the achievement of accomplishments and aspirations, which often results in approach oriented behavior. In contrast, prevention focused individuals seek to avoid negative end states, such as losses, and therefore are concerned with their security, duties, and obligations, resulting in avoidance-related behavior. These two distinct motivational states influence the way these individuals approach creative goals, which shares commonalities with co-creation. By its very nature, the …
Date: August 2018
Creator: Naletelich, Kelly
System: The UNT Digital Library
Value: An Examination of Its Key Dimensions and Elements through the Lens of Service-Dominant Logic and Beyond (open access)

Value: An Examination of Its Key Dimensions and Elements through the Lens of Service-Dominant Logic and Beyond

his dissertation advocates that value and its creation are often misunderstood concepts since both lack robust comprehensive conceptual foundations from which to advance rigorous theoretical development and analysis. Furthermore, this dissertation characterized value as the subjective assessment of the total worth of benefits received for the price paid or costs, i.e. money, time, energy, etc. The purpose of this dissertation was to conduct a holistic examination of value through the lens of service-dominant logic (S-D) and several historical economic periods of thought. I conducted a comprehensive S-D literature review in conjunction with a conceptual Boardman Soft Systems Methodology to develop a systemigram that captured the most critical S-D concepts and interrelationships to clarify its purpose and future research opportunities. During this process, value was recategorized and simplified into five primary dimensions, i.e. nature, perspectives, measures, storage, and creation. I employed Maslow's hierarchy of needs theory to illustrate that value at the lowest level of abstraction is the efficient satisfaction of human needs. I also investigated value creation and introduced a comprehensive value creation conceptual framework. Value creation is seen as a continuum of activity of key processes, i.e. value co-production, value in exchange, and value co-creation, and key procedural elements, …
Date: August 2018
Creator: Dickens, John
System: The UNT Digital Library
A Multi-Methodology Study of the Historic Impact of Soft Systems Methodology and Its Associated Data Visualization Approach in the Context of Operations and Business Strategy (open access)

A Multi-Methodology Study of the Historic Impact of Soft Systems Methodology and Its Associated Data Visualization Approach in the Context of Operations and Business Strategy

The purpose of this three-essay dissertation was to expand knowledge and theory regarding soft systems methodologies (SSMs) and data visualization approaches in business, engineering, and other social sciences. The first essay depicts a bibliometric analysis study of the historic impacts of SSM from 1980-2018 on business, engineering, and other social sciences fields. This study found 285 articles that described or employed SSM for research and included outcomes such as top SSM authors, author citation impacts, common dissemination outlets, time-bound distribution of publications, and other relevant findings. This study provided a picture of who, what, why, when, and where SSM has had the greatest impact on academic thought and practice. The second essay presents research on the academic impact of Systemigrams, an associated data visualization approach, finding examples of conceptual or research development that employed Systemigrams to depict complex problem situations. Recommendations for improvement of designing these data visualizations to increase their field use resulted from this study. The final essay leverages a selection of the articles as use cases to produce a grounded theory study to identify phenomena that arose from the use of SSM for operations and firm strategy research. This study identified two broad themes including (i) scope, …
Date: December 2018
Creator: Warren, Scott Joseph
System: The UNT Digital Library
Does the Method of Financing Stock Repurchases Matter? Examining the Financing of Share Buybacks and Its Effect on Future Firm Investments and Value (open access)

Does the Method of Financing Stock Repurchases Matter? Examining the Financing of Share Buybacks and Its Effect on Future Firm Investments and Value

Recent increases in stock repurchases among U.S. corporations coupled with a historically low cost of debt since the Global Financial Crisis has created media speculation that firms in recent years are paying for their expanding share buyback programs with debt. Repurchasing stock by increasing leverage, instead of using internal funds, implies that managers may speculate on current low interest rate environments at the expense of shareholders. Recent studies find that stock repurchases are associated with reductions in future firm employment and investments such as capital expenditures and research and development expenses. This study expands on prior studies by evaluating how debt-financed stock repurchases affect firm investment, investigating the likelihood of these repurchases in low interest rate environments and assessing the effects on firm value. Results confirm that, in recent years, debt-financed repurchases have increased substantially and the probability of debt-financed repurchases increases in the presence of low interest rates. This relationship is especially pronounced in the years following the Global Financial Crisis. Debt-financed repurchases are associated with small reductions in firm investment; however, these reductions are significantly less after adjusting for industry conditions. Finally, there is little evidence that the method of financing repurchases affects firm value nor does it …
Date: December 2018
Creator: Peabody, Stephen Drew
System: The UNT Digital Library
Three Essays on Information Security Risk Management (open access)

Three Essays on Information Security Risk Management

Today's environment is filled with the proliferation of cyber-attacks that result in losses for organizations and individuals. Hackers often use compromised websites to distribute malware, making it difficult for individuals to detect. The impact of clicking through a link on the Internet that is malware infected can result in consequences such as private information theft and identity theft. Hackers are also known to perpetrate cyber-attacks that result in organizational security breaches that adversely affect organizations' finances, reputation, and market value. Risk management approaches for minimizing and recovering from cyber-attack losses and preventing further cyber-attacks are gaining more importance. Many studies exist that have increased our understanding of how individuals and organizations are motivated to reduce or avoid the risks of security breaches and cyber-attacks using safeguard mechanisms. The safeguards are sometimes technical in nature, such as intrusion detection software and anti-virus software. Other times, the safeguards are procedural in nature such as security policy adherence and security awareness and training. Many of these safeguards fall under the risk mitigation and risk avoidance aspects of risk management, and do not address other aspects of risk management, such as risk transfer. Researchers have argued that technological approaches to security risks are rarely …
Date: May 2018
Creator: Ogbanufe, Obiageli
System: The UNT Digital Library
Creating Supply Chain Resilience with Information Communication Technology (open access)

Creating Supply Chain Resilience with Information Communication Technology

Supply chain resilience refers to the capability of a supply chain to both withstand and adapt to unexpected disturbances. In today's turbulent business environment, firms are continually seeking to create more resilience within their supply chain through increased information communication technology use and enhanced business-to-business relationships. The focus of this dissertation is the investigation of how information communication technology creates resilience at the differing process levels of supply chain operations. Past research into information communication technology use within supply chains has often been conducted at the macro-level of supply chain phenomena. As such, there is still much to understand about how decision-makers interact with information communication technology at the micro-level of supply chain decision-making. A more in-depth, broad coverage of this interaction will provide both practitioners and academics a better understanding of how to leverage information communication technology in achieving supply chain resilience. To meet this aim, this dissertation contains three essays that re-orient conceptual thinking about supply chain phenomenon, explore how advances in information communication technology influence business-to-business relationships, and identify how information communication technology effects the decision-making of supply chain managers.
Date: May 2018
Creator: Glassburner, Aaron
System: The UNT Digital Library
A Foot in Two Worlds: Exploring Organizational and Professional Dual Identification (open access)

A Foot in Two Worlds: Exploring Organizational and Professional Dual Identification

Who am I? Who are you? Who are we? These are some of the fundamental questions that identity scholars have grappled with since the 1900s when researchers across multiple disciplines first began to theorize about the self, identity, and identification. While the benefits and consequences of singular identities has been largely studied, recent scholars have argued for the importance of multiple identity research, as multiple identities have become increasingly salient to individuals due to societal and organizational changes including globalization and technological advancements. An important phenomenon within multiple identity research is dual identification, of which I explore a specific type– identification with both one's organization and one's profession. Using a three-study, quantitative design spanning two industries, I studied the effects of dual identification and identity conflict on individual psychological outcomes, turnover intentions, and OCB engagement. Findings from these three studies, holistically, indicate that when individuals experience identity conflict between their organizational and professional identities, they experience negative outcomes. These negative outcomes – increased emotional exhaustion, psychological distress, and turnover intentions, in addition to reduced OCB engagement – have important ramifications for the individuals themselves and their organization. However, post-hoc results indicate that dual identification – through the main effects of …
Date: May 2018
Creator: Ostermeier, Kathryn
System: The UNT Digital Library
An Investigation of the Value of Bank Capital in the Context of Mergers and Acquisitions in the Banking Industry (open access)

An Investigation of the Value of Bank Capital in the Context of Mergers and Acquisitions in the Banking Industry

I analyzed a sample of 228 U.S. bank acquisitions announced from January 1996 to December 2015. This dissertation explores whether acquiring banks pay more for targets with a higher capital ratio using a better measure of goodwill than previous studies. Specifically, this study uses manually collected goodwill to evaluate the value of bank capital, a measure that I argue is superior to those used in prior studies. I collect information about goodwill for 203 merger and acquisition (M&A) deals. I find a positive relation between the target's capital ratio and the goodwill paid for targets, which is consistent with previous cross sectional analysis on the relation between bank equity capital and value. This positive relation exists in the deals with a bank target, but not when the target is a savings institution. Furthermore, I find that the positive association between the target's capital ratio and goodwill paid by the acquirer only exists in the sample of acquisitions of banks announced before the 2007 financial crisis. This dissertation also evaluates the value of bank capital by analyzing the changes in shareholders' wealth around the announcement of M&As. My empirical analysis shows that banking mergers create value for the shareholder of targets. …
Date: August 2018
Creator: Liu, Shiang
System: The UNT Digital Library
Do Banks' Dividends Signal Their Financial Health? (open access)

Do Banks' Dividends Signal Their Financial Health?

This paper examines the relation between banks' dividends and their future financial health. Using banks' Nonperforming Loans Ratio, Loan Loss Provision Ratio, and Z-score as proxies for their financial health, I show that there is a strong positive relation between banks' dividends lagged by one quarter and their financial health in the current quarter. This main finding continues to hold following several additional tests, including the application of an instrumental variable approach, the use of change in dividends as the key independent variable, the exclusion of banks that are subject to stress test, the addition of macroeconomic variables, the exclusion of too-big-to-fail banks, and the exclusion of non-depository banks. I also find that the positive relation between banks' dividends and their future financial health is more pronounced for banks with a higher degree of opacity, a lower Tier 1 capital ratio, and during the 2007-2009 financial crisis. This paper contributes to three strands of the finance literature, including the Risk Reduction Hypothesis of dividend signaling in corporate finance, bank dividend policies, and the determinants of banks' financial stability. First, I show that there is a positive relation between banks' dividends lagged by one quarter and their financial health in the …
Date: August 2018
Creator: Zheng, Yi
System: The UNT Digital Library
Peeling Back the Layers of Ambidexterity in Multi-Business Firms (open access)

Peeling Back the Layers of Ambidexterity in Multi-Business Firms

There is a dual accountability accepted by top executives of large multi-business firms (MBFs) to both consistently deliver performance in the short term and cultivate scalable opportunities for future growth, which requires that they be able to implement both evolutionary and revolutionary change. Researchers have defined this capability as organizational ambidexterity (OA) and deemed it a crucial requirement for every organization. Literature in the field of organizational ambidexterity (OA) describes the need to simultaneously orchestrate attention and activities along two dimensions of ambidexterity: exploitation and exploration. This dissertation peels back the layers in MBFs to generate a deeper understanding of OA in the MBF, by answering three research questions, using a mixed method approach-qualitative study followed by quantitative study: (1) What is an appropriate specification of OA in an MBF? (2) Are there differences in exploration and exploitation across the three levels within the MBF? and (3) Is there a relationship between exploration and exploitation and MBF performance at each of the three levels within the MBF? Qualitative Study 1 was conducted in December 2017, to investigate and confirm the appropriateness of the three-level operationalization of OA in MBFs. The data comprised eleven semi-structured interviews with senior executives that serve …
Date: December 2018
Creator: Struckell, Beth Maney
System: The UNT Digital Library
Factors that Drive New Technology Product and Service Use and Continuance (open access)

Factors that Drive New Technology Product and Service Use and Continuance

Understanding information technology and its related products and services is increasingly important because the everyday use of technology continues to expand and broaden. Despite this need for greater understanding, the extant theories that explore the dominant factors that drive intention to use a new technology are limited. The Technology Acceptancy Model (TAM) is the most popular model in explaining traditional technology adoption. The limitations of the TAM in grasping the overall evaluation of technology or service are one of motivations for developing new models in this dissertation. The two antecedents of the TAM- perceived usefulness and perceived ease of use- only capture partial utility of a service (or product). In addition, some researchers argued that key factors used in an initial acceptance model such as perceived usefulness and perceived ease of use are not strong predictors of future continuance intention of the service because they do not consider future switching intention in the later stage. Hence, one goal of this dissertation is to develop and test new models to predict factors that drive intention and continuance intention decisions of new technology related products or services. This research involves three studies that examine different aspects of adoption and continuance intention decisions …
Date: May 2018
Creator: Liu, Xiaotong
System: The UNT Digital Library
Supply Chain Learning: A Grounded Theory Analysis (open access)

Supply Chain Learning: A Grounded Theory Analysis

Under the unifying theme of supply chain learning, this three essay dissertation extends scholarship by investigating these multi-tier relationships. Theory is emerged, grounded in data, gathered from functioning supply chains in an effort to provide scholars and practitioners with an increased understanding of the SCL phenomena. Essay 1, entitled "Supply Chain Learning: An Exploratory Literature Review" examines the current literature in an attempt to address the shortcomings and emerge areas that have been less explored and less understood. By exposing these areas of research opportunities using a grounded theory methodology, a framework was emerged allowing identification of the limitations of extant literature and providing a springboard for future research. This framework also allowed further investigation into the SCL processes and expansion of the current understanding by providing academia with a comprehensive review of the literature and revealing the shortcomings that exist related to SCL. Using the framework emerged in Essay 1, Essay 2 entitled "Toward Supply Chain Learning: A Focus on the Customers of Logistics Service Providers" explores the rationalization and cognitive processes of senior level executives of firms utilizing national or global supply chains. These respondents are directly engaged in creating, establishing and operating relationships with third party logistics …
Date: August 2018
Creator: Morgan, Thomas V.
System: The UNT Digital Library
Supply Chain Finance: Developing a Weighted Cash Conversion Cycle to Proxy Corporate Financial Performance (open access)

Supply Chain Finance: Developing a Weighted Cash Conversion Cycle to Proxy Corporate Financial Performance

The objective of this three-essay dissertation are to develop a weighted cash conversion cycle (CCC_EVA) and empirically investigate its commensurability of corporate financial performance. Essay 1, titled "Supply Chain Finance: Developing a Weighted Cash Conversion Cycle to Proxy Operations Liquidity", presents the development and supporting empirical evidence of CCC_EVA measurability of operations liquidity. This essay shows the processes of scaling capital intensity and financing cost into time intervals captured by the traditional metric. Specifically, this essay investigates how accurately CCC_EVA indexes operations liquidity captured working capital, operational cash flow-to-modified working capital ratio, and quick ratio. The sample used in this essay consists of 4,333 firm-year observations of publicly traded industry classified firms listed on the U.S. exchange markets. The results of the empirical testing have statistically supported the essay hypotheses, that is CCC_EVA is a more accurate proxy of operations liquidity in comparison to the traditional metric (CCC_D). Essay 2, titled "Supply Chain Finance: Weighted Cash Conversion Cycle and Corporate Finance", expands the first essay findings by accounting for well-known financial measurements. Specifically, this essay examines the relations between CCC_EVA and operations liquidity and leverage, Market value, operating profitably and growth, and long-term asset management efficiency. This essay paper has …
Date: August 2018
Creator: Hammady Brho, Mazen
System: The UNT Digital Library
A Mixed Methodology Approach to Extend Understanding of the Success Factors of Performance-Based Contracting (open access)

A Mixed Methodology Approach to Extend Understanding of the Success Factors of Performance-Based Contracting

Performance-based contracting (PBC) is an outcome-based product support strategy that provides efficient performance solutions for buyers. Suppliers under performance-based contracting are rewarded after achieving desired performance objectives. While current scholarship has deepened our knowledge of the benefits of PBC, the particular factors behind effective and efficient performance-based contracts (PBCs) are still vague. Thus, this dissertation will focus on essential dimensions for the successful PBC. There remains a great deal that is not understood about the success factors for effective PBCs. When looking at the critical criteria for the selection of suppliers in the context of PBC, even less is known. This dissertation contains three essays with the purpose of: (1) investigating the effect of supply chain collaboration and upfront investments on the benefits of the PBC; (2) exploring supplier selection criteria for successful PBC; and (3) examining the effect of contract length and fleet size on upfront investments for effective and efficient PBC. These three essays offer a solid foundation for theoretical and practitioner understanding for effective PBCs.
Date: August 2018
Creator: Uvet, Hasan
System: The UNT Digital Library
The Importance of Construct Definition and Specification in Operations Management Structured Model Research: The Case for Quality and Sustainability Constructs in a Decision-Making Model (open access)

The Importance of Construct Definition and Specification in Operations Management Structured Model Research: The Case for Quality and Sustainability Constructs in a Decision-Making Model

In the operations management research, the inconsistent use of the same term for different concepts and the use of the similar concepts for different constructs potentially causes theoretical and statistical problems. This research addresses the importance of construct definitions and specification methodologically within the context of quality and sustainability management. It involves three essays using multiple quantitative methods such as partial least squares structural equation modeling and multiple regression in different consumer decision-making models in the automobile industry. In the first two essays, a comprehensive literature review results in definition and contextualization of the quality and sustainability constructs as applied to operations management and marketing research. The relationships of these constructs with consumer behavior are empirically tested. Building upon the first two essays, the third essay addresses the methodological issues on formative and reflective measurements by summarizing a procedure of validating formative measurements. The quality construct was used to illustrate the methodology. This research contributes to the literature, theory, and practices in the area of quality and sustainability management.
Date: August 2018
Creator: Xu, Lu
System: The UNT Digital Library
The Trident of Corporate Corruption Control: Implications and Effects (open access)

The Trident of Corporate Corruption Control: Implications and Effects

Corporate corruption is a widespread phenomenon that persists in the functioning of both public and private companies of differing size, performance, industry, and national origin. As it generates negative effects both within and outside the organization, corporate corruption has been the subject of scholarly research. Yet, despite attempts to understand its antecedents and consequences, companies continue to struggle to eliminate corruption in their business practices. Thus, the overarching research question for this dissertation is "Why do companies continue engaging in corruption?" To answer this research question, I focused on the topic of organizational corruption control, i.e., a set of mechanisms that purposefully target the prevention of corrupt practices within an organization. Specifically, I investigated the trident of organizational corruption control via its effects and implications on three constructs - corporate social performance, opportunity attractiveness of organizational corruption and corporate corruption recidivism. Using distinct methodologies, I examined corporate corruption control in three separate studies to address 1) the effect of corruption control on the opportunity attractiveness of organizational corruption 2) the effect of corruption control on corporate social performance and 3) the implication of ineffective corruption control on organizational corruption recidivism. Based on interdisciplinary theoretical perspectives and several secondary data sources, …
Date: December 2018
Creator: Orudzheva, Leyla
System: The UNT Digital Library
Exploring the Conceptualization, Operationalization, and Application of Relational Mindfulness (open access)

Exploring the Conceptualization, Operationalization, and Application of Relational Mindfulness

Individuals vary in the level of their mental presence during interactions; some individuals are mentally present with others, while others are mired in their thoughts and emotions. Scholarly work on this area is limited, and we know very little about why some individuals display mental presence better than others. In this dissertation, I explore the concept through a series of three essays. In the first essay, I define relational mindfulness as the ability to be mentally present with others. Further, I propose that relational mindfulness has three essential features: others' focus, thought-switching, and emotional acceptance. I operationalize the scale to measure relational mindfulness and investigate its nomological network by correlating it with different constructs. Data from four different samples provide support for the three-factor structure of relational mindfulness and provide support for the relationship of relational mindfulness with related constructs. In the second essay, I explore the relevance of relational mindfulness for front-line employees by investigating the two pathways through which relational mindfulness can reduce fatigue of front-line employees. In the first pathway, I posited that relational mindfulness would decrease the intensity of surface acting of employees when their customers mistreat them, and thus reduce fatigue of employees. In the …
Date: December 2018
Creator: Sigdyal, Pratigya
System: The UNT Digital Library
A Grounded Theory Model of the Relationship between Big Data and an Analytics Driven Supply Chain Competitive Strategy (open access)

A Grounded Theory Model of the Relationship between Big Data and an Analytics Driven Supply Chain Competitive Strategy

The technology for storing and using big data is evolving rapidly and those that can keep pace are likely to garner additional competitive advantages. One approach to uncovering existing practice in a manner that provides insights for building theory is the use of grounded theory. The current research employs qualitative research following a grounded theory approach to explore gap in understanding the relationship between big data (BD) and the supply chain (SC). In this study eight constructs emerged: Organizational and environmental factors, big data and supply chain analytics, alignment, data governance, big data capabilities, cost of quality, risk analysis and supply chain performance. The contribution of this research resulted in a new theoretical framework that provides researchers and practitioners with an ability to visualize the relationship between collection and use of BD and the SC. This framework provides a model for future researchers to test the relationships posited and continue to extend understanding about how BD can benefit SC practice. While it is anticipated that the proposed theoretical framework will evolve as a result of future examination and enhanced understating of the relationships shown the framework presented represents a critical first step for moving the literature and practice forward.
Date: December 2018
Creator: Baitalmal, Mohammad Hamza
System: The UNT Digital Library